PPRuNe Forums - View Single Post - Virgin Blue to shed 400 jobs ....
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Old 23rd Feb 2009, 04:42
  #83 (permalink)  
Cravenmorehead
 
Join Date: Apr 2002
Location: Australia at the moment
Posts: 177
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I think 6100 is right.
I think if you take out the cost of V-Australia set up it looks reasonable, but certainly nothing to be proud of. Pax numbers have been heading south for awhile now ie at least for a third of the 6 month reporting period to end of 08So it is not that bad. Virgin is doing the right thing by cutting routes, parking aircraft and trimming staff (unless you are one of the staff trimmed of course), they have to; unfortunate as it is.
The market as of midday had the shares unchanged, so the market had factored all this in. The clever boffins as one poster said will poor over these results but I think they are not surprised by it all, even the lack of interim dividend, I suppose this was to retain cash on hand for the old war chest.
The next 6 months now that could be ugly for Virgin and indeed everyone. We seem to lag behind the rest of the world by 6-8 months so whatever you see happening there now will be going on here around September; and that is all rather nasty. Guess it is a case of wait and see.
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